Business

Valeant Pharmaceuticals International, Inc. lost 1.58 Canadian dollars (1.24 US dollars), or 9.4 percent, to 17.89 Canadian dollars (14.09 dollars), after the company said its subsidiaries in Australia were the subject of a tax audit. "The dollar-yen's downside is expected above 108 yen for now". The yen tends to benefit during times of geopolitical or financial stress as Japan is the world's biggest creditor nation and there is an assumption that Japanese investors there will repatriate ...

Nervous investors drove shares lower earlier in the week, after President Trump declared Tuesday that the USA would react with " fire and fury " to further nuclear provocations from North Korea. Investors have been jittery about North Korea since Tuesday when Trump said any threats from Pyongyang would be "met with fire and fury like the world has never seen".

TECH SLIDE: Losses among technology stocks led the market slide. "A combination of softer eurozone economic data, solid U.S. reports and market positioning all resulted in a markedly heavier tone for the single currency", Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington, said in a note.

It fell 1.43 percent for the week, the most since the week of March 24. The North's latest threat came as US President Donald Trump warned Tuesday that North Korea will be met with "fire and fury" should it stick to ambitions to hit the US with ballistic missiles.

Benchmarks in Taiwan and New Zealand also declined. And with that, the S&P 500's steak of 58 days without a 1% move in either direction came to an end. MetLife fell 75 cents, or 1.6 percent, to $47.56, while Charles Schwab slid 69 cents, or 1.6 percent, to $41.33. That's the highest level of job openings on record according to JOLTS.

If an investigation begins, the US government could seek remedies either through the World Trade Organization or outside of it. On Saturday, administration officials said the new trade measure was "totally unrelated" to events involving North Korea.

On the economic front, the Labor Department released a report showing an unexpected drop in USA producer prices in the month of July. Weakness in US Treasury yields may also be supporting the yen, Mr Sweeting said. It's still the highest it's been since May. Even so, the close was the highest in a month. The broader Topix dropped 0.2 percent to 1،615.56. Netflix lost 1.5 percent.

Currently, the major averages are hovering in positive territory. On the economic front, the Labor Department released a report showing an unexpected drop in USA producer prices in the month of July. Titled "Reckless game over the Korean Peninsula runs risk of real war", the editorial suggested China will stay neutral if North Korea strikes first, but will intervene if the U.S.is the first mover.

US stocks closed in the green on Friday, but the major indexes posted sharp losses for the week. We should also be aware of the risk of responding to geo-political shocks by selling assets: too often we find ourselves selling at the moment of highest fear, only to be out of the market as a rebound in stock market prices takes place as tensions wind down.

The Nasdaq lost 2.1% to 6,216.87. It was the biggest percentage loss since mid-June. "I don't see it as a fear-driven sell-off". Developments regarding the situation with North Korea may remain in focus next week, although traders are also likely to keep an eye on reports on retail sales, housing starts, and industrial production.

Power outages were reported in some areas, but no structural damage was reported. Singaporeans living in Toa Payoh and Farrer Road said that they also felt tremors. According to reports, tremors were felt in Singapore as well. Indonesia is prone to quake as it lies on a vulnerable quake-hit zone so called "the Pacific Ring of Fire".

Bank Private Client Wealth Management. The CBOE Volatility Index, the most widely followed barometer of expected near-term USA stock market volatility, hit its highest mark since November 8, when Trump was elected president. The USD/JPY pair was trading at 110.072 Yen, up 0.13%. The Korean won KRW=KFTC continued to fall versus the dollar, down 0.13 percent to 1,143.5 on Friday for a 1.6 percent decline on the week.

At a briefing on opioid addiction at his golf course in Bedminster, N.J., Trump warned North Korea not to make any more threats against the United States, adding that North Korea would be "met with fire and fury like the world has never seen".

Geopolitical concerns took centre stage once again after President Donald Trump issued a new round of comments against North Korea. The Dow fell more than 200 points, a almost 1% drop, and its biggest dip in three months. Heading into Thursday, some 89 percent of the companies in the S&P 500 had reported quarterly results. Chinese blue chips closed flat but Hong Kong's Hang Seng fell 0.4 per cent.

Gold has risen to its highest level in nearly two months, while the Swiss franc has powered against the United States dollar and seen its biggest one-day gain against the euro in more than two and a half years. Crude oil futures are slipping USD0.10 to USD48.49 a barrel after tumbling USD0.97 to USD48.59 a barrel on Thursday. Sterling was last trading at $1.3007, up 0.25 percent on the day.

Meanwhile, seven persons were confirmed killed and several feared trapped after the landslide that occurred around midnight and damaged the Mandi-Pathankot National Highway 154 as well. Mangled remains of the bus bound for Katra in Jammu were retrieved. Three of the eight persons on the bus died. Officials said 21 passengers travelling to Manali got their tickets booked online.

Australian shares were down 1.3 percent, set for a weekly loss of 0.6 percent and Chinese and Hong Kong bluechips lost 1.6 percent and 1.9 percent respectively. The pan-European FTSEurofirst 300 index (.FTEU3) lost 1.11 percent. The dollar index (.DXY), which measures the US currency against a basket of other major currencies, fell 0.14 percent.

Silver too gained Rs 70 to Rs 40,200 per kg on increased offtake by industrial units and coin makers. After touching a more than two-month high at $1,291.86, spot gold last added 0.2 percent to $1,288.81 an ounce. Bond prices rose. The yield on the 10-year Treasury note slipped to 2.25 percent from 2.26 percent late Tuesday. The pound was unchanged against the dollar at $1.2981 and up 0.15% against the euro at 1.1040 euros.

Is that a reason to be? US stocks were modestly higher in late morning trading on Friday as investors cautiously dipped back into riskier assets, after a three-day losing streak on concerns over escalating tensions between the United States and North Korea.

Seems like, patriotism has taken birth after the swearing in of the saffron party; but to make is clear I would like to say that, patriotism is in our DNA. The nation would be on high alert during the Independence Day celebrations. "Jo sachha Islam ka manne wala hai, usse lazmi taur se watan se mohabbat karna hai".

The broad-based S&P 500 shed 0.6 percent to 2,459.50, while the tech-rich Nasdaq Composite Index tumbled 0.8 percent to 6,299.12. "But now we're seeing increasing rather than diminishing tensions", he said. Outside the political arena, declines in a pair of technology stocks added to the cautious tone on the day. On average, the S&P 500 falls 5% or more every 10 weeks and the index falls 10% every 33 weeks, according to data analyzed by AllianceBernstein going back to 1928.

The Japanese markets were closed for a holiday. Gold and Silver settled sharply higher in futures market on Wednesday amid a war of words between the US and North Korea. Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4 percent. The Korean won also continued to skid, down 0.45 percent to 1,147.2, falling below its 200-day moving average for the first time in a month.

However, the FFF announced on Friday that it had been sent, stating via their official Twitter account: "The FFF confirms the receipt of the transfer certificate of Neymar , which was sent by the RFEF". However, the FFF has now confirmed all paperwork has been received. But the French league has yet to receive this from its Spanish counterparts and so can not register the Brazilian.